ð§Bitcoin will Go Down Againð§
āļāļĩāđāļāļąāļāđāļāļ:
ðĻBitcoin started to rise from the ðĒHeavy Support zone($25,280-$23,900)ðĒ and was able to break the Downtrend line yesterday.
â Also, Bitcoin has managed to form an Ascending channel.
ðââïļBitcoin is currently moving in the ðīResistance zone($28,460-$28,000)ðī near the SMA(100) and near the upper line of the ascending channel.
ðĄAlso, we can see the Regular Divergence(RD-) between Price and Volume.
ðIn terms of Elliott Waves, Bitcoin managed to complete the main corrective wave A at the ðĒHeavy Support zone($25,280-$23,900)ðĒ and is currently completing the main wave B.
ðSince the main wave A is five microwaves, we have to wait for the Zigzag correction(ABC/5-3-5), and the higher the end of the main wave B is at higher prices, we expect the main wave C to be weaker.
ðâ ïļDeath Cross Signalâ ïļ: The death cross appears on a chart when an asset's short-term Moving Average(MA), usually the 50-day, crosses below its long-term moving average, usually the 200-day.
ðI expect the microwave C of the main wave B to finish at the ðīResistance zoneðī or at the ðĄPrice Reversal Zone(PRZ)ðĄ, and then Bitcoin will âïļAttackâïļ the lower line of the ascending channel.
Bitcoin Analyze ( BTCUSDT ), Daily time frame â°.
Do not forget to put Stop loss for your positions (For every position you want to open).
Please follow your strategy; this is my Idea, and I will gladly see your ideas in this post.
Please do not forget the â ' like'â button ðð & Share it with your friends; thanks, and Trade safe.
â Also, Bitcoin has managed to form an Ascending channel.
ðââïļBitcoin is currently moving in the ðīResistance zone($28,460-$28,000)ðī near the SMA(100) and near the upper line of the ascending channel.
ðĄAlso, we can see the Regular Divergence(RD-) between Price and Volume.
ðIn terms of Elliott Waves, Bitcoin managed to complete the main corrective wave A at the ðĒHeavy Support zone($25,280-$23,900)ðĒ and is currently completing the main wave B.
ðSince the main wave A is five microwaves, we have to wait for the Zigzag correction(ABC/5-3-5), and the higher the end of the main wave B is at higher prices, we expect the main wave C to be weaker.
ðâ ïļDeath Cross Signalâ ïļ: The death cross appears on a chart when an asset's short-term Moving Average(MA), usually the 50-day, crosses below its long-term moving average, usually the 200-day.
ðI expect the microwave C of the main wave B to finish at the ðīResistance zoneðī or at the ðĄPrice Reversal Zone(PRZ)ðĄ, and then Bitcoin will âïļAttackâïļ the lower line of the ascending channel.
Bitcoin Analyze ( BTCUSDT ), Daily time frame â°.
Do not forget to put Stop loss for your positions (For every position you want to open).
Please follow your strategy; this is my Idea, and I will gladly see your ideas in this post.
Please do not forget the â ' like'â button ðð & Share it with your friends; thanks, and Trade safe.
āļāļēāļĢāļāļ·āđāļāļāļēāļĒāļĒāļąāļāļāļāļāļģāđāļāļīāļāļāļĒāļđāđ
āļāļąāļāļāļķāļāļāđāļ§āļĒāļāļģ
â
Running wellâ
āļāļīāļāļāļēāļĢāđāļāļĢāļ: āļāļķāļāđāļāđāļēāļŦāļĄāļēāļĒāļāļēāļĢāļāļģāļāļģāđāļĢ
âïļTarget Doneâïļāļāļąāļāļāļķāļāļāđāļ§āļĒāļāļģ
We have to wait to see, if BTC can break the support zone or not, I will try to updateāļāļąāļāļāļķāļāļāđāļ§āļĒāļāļģ
Probably, Bitcoin will retrace to SMA(200)āļāļąāļāļāļķāļāļāđāļ§āļĒāļāļģ
As I said, Bitcoin touched the SMA(200).This return of Bitcoin to the ðĒSupport zone($27,600-$27,300)ðĒ can also play the role of pullback to the downtrend line.
If the lower line of the ascending channel is broken, we can expect Bitcoin to at least fall to the ðĒHeavy Support zone($25,280-$23,900)ðĒ.
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